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Fox News may add Ingraham to prime-time, move up Hannity, NY Times says

Fox News is negotiating a deal with right-wing radio host Laura Ingraham to take over the 10 p.m. time slot on the channel, which could potentially send Fox host Sean Hannity to the 9 p.m. slot, the New York Times reports, citing two people briefed into the matter. The changes, which are not yet finalized, come amid reorganizations of the channel's prime-time schedule following the departures of Megyn Kelly and Bill O'Reilly. Reference Link

21st Century Fox, Sky deal to take longer to clear, says Credit Suisse

Credit Suisse analyst Omar Sheikh continues to believe the Sky (SKYAY) transaction will eventually receive full regulatory approval, but highlights there is an elevated risk to the deal if it is referred to the CMA, and at best an extended period before it gets cleared. Meanwhile, he believes the 2018 21st Century Fox (FOXA) organic equity story looks compelling, and reiterates an Outperform rating and $37 price target on the shares.

08/08/17

BNCH

08/08/17NO CHANGEBNCHBuy

Fox-ION 'rumors' most likely a negotiating tactic, says Benchmark

Benchmark analyst Daniel Kurnos highlighted a "slew" of "inconsistencies" that make him skeptical of last week's "unsubstantiated rumor published by Bloomberg" regarding Fox (FOXA) potentially forming a JV with ION and pulling all of its affiliate agreements from Sinclair (SBGI), concluding in a note to investors that this was "just another negotiating tactic by the network." Fox's "cozy" agreements with Tribune (TRCO) may get disrupted by Sinclair's acquisition, added Kurnos, who has a Buy rating on Sinclair shares.

08/11/17

PIPR

08/11/17INITIATIONTarget $35PIPROverweight

21st Century Fox initiated with an Overweight at Piper Jaffray

Piper Jaffray analyst Stan Meyers started 21st Century Fox with an Overweight rating and $35 price target. Fox has some of the best mix of content and remains undervalued relative to peers, the analyst contends.

09/05/17

WELS

09/05/17UPGRADETarget $116WELSOutperform

Disney upgraded to Outperform from Market Perform at Wells Fargo

Wells Fargo analyst Marci Ryvicker upgraded Disney (DIS) to Outperform and raised her price target for the shares to $116 from $109. The owner of ESPN and ABC closed Friday up 31c to $101.50. Concerns over potential dilution from the BAMTech stake and the streaming apps are "widely overdone," Ryvicker tells investors in a research note where she also downgraded Viacom (VIAB). She expects the TV ecosystem will soon undergo on an accelerated push into over-the-top. As such, investors may need to start increasing exposure to media companies with solid streaming strategies, such as CBS (CBS), 21st Century Fox (FOXA), and Disney, and lessen exposure to those that do not, such as Viacom and Scripps Networks (SNI)/Discovery Communications (DISCA), Ryvicker argues. The analyst likes the current entry point for Disney shares.

FOX21st Century Fox

$25.46

-0.21 (-0.82%)

04/26/17

FBCO

04/26/17NO CHANGETarget $37FBCOOutperform

Hulu stake could be for sale this year, says Credit Suisse

Credit Suisse analyst Omar Sheikh notes that Comcast (CMCSA; CMCSK) will be free to sell its 30% stake in Hulu from the end of 2017. The analyst believes there is a $100B domestic revenue opportunity for targeted TV advertising long-term, which vertically integrated networks/distributors will be in a strong position to exploit. Therefore, Sheikh argues that it would make sense for 21st Century Fox (FOX; FOXA) to acquire Comcast's stake in Hulu, if it becomes available, subject to valuation and appropriate programming supply agreements. He reiterates an Outperform rating and $37 price target on 21st Century Fox's shares.

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